The 5 cities with the lowest rates of underwater homes

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Some 6.7 million properties were considered seriously underwater during the second quarter of this year. While that represents nearly 12% of all U.S. homes with a mortgage, it’s down considerably from the 12.8 million seriously underwater properties counted during the second quarter of 2012, according to ATTOM Data Solutions, the parent company of RealtyTrac.

To be “seriously underwater” the homeowner must owe at least 25% more than the estimated market value of the property.

We count down to the city with the lowest percentage of seriously underwater homes.

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